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a) what is the relevance of duration to bond price changes? b) how would you use duration to guide a portfolio strategy when a fall

a) what is the relevance of duration to bond price changes?

b) how would you use duration to guide a portfolio strategy when a fall in bond yields is expected?

c)In an normal (upward sloping) yield curve situation, which bond would you expect to have a higher yield; a 10-year,1%p.a. coupon bond or a 10-year 10% p.a. coupon bond?why?

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